The Bombay High Court ruled that the Prevention of Money Laundering Act (PMLA) takes precedence over bank recovery laws like SARFAESI and RDB Act. This decision clarifies that banks cannot automatically claim priority over properties attached by the Enforcement Directorate as proceeds of crime, reinforcing the state’s authority to confiscate illicit assets.
Banks can’t claim priority over properties attached under PMLA: Bombay HC
March 31, 2026March 31, 2026|
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